AssetMark Financial (NYSE:AMK) Downgraded by William Blair to Market Perform

William Blair downgraded shares of AssetMark Financial (NYSE:AMK) from an outperform rating to a market perform rating in a research note issued to investors on Thursday morning, MarketBeat reports.

Separately, Raymond James lifted their price objective on AssetMark Financial from $39.00 to $41.00 and gave the company a strong-buy rating in a report on Thursday, April 11th.

AssetMark Financial Stock Performance

AMK stock opened at $33.93 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.84 and a quick ratio of 3.84. The business has a 50-day moving average price of $35.09 and a 200 day moving average price of $30.19. The company has a market capitalization of $2.52 billion, a P/E ratio of 20.69 and a beta of 1.11. AssetMark Financial has a 1-year low of $22.92 and a 1-year high of $37.54.

AssetMark Financial (NYSE:AMK) last released its quarterly earnings data on Wednesday, February 21st. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.02. The firm had revenue of $158.18 million during the quarter, compared to the consensus estimate of $188.88 million. AssetMark Financial had a return on equity of 12.74% and a net margin of 17.38%. As a group, equities research analysts forecast that AssetMark Financial will post 2.46 EPS for the current fiscal year.

Hedge Funds Weigh In On AssetMark Financial

A number of large investors have recently added to or reduced their stakes in the company. Federated Hermes Inc. raised its holdings in AssetMark Financial by 2.8% in the fourth quarter. Federated Hermes Inc. now owns 13,975 shares of the company’s stock worth $419,000 after purchasing an additional 385 shares in the last quarter. Swiss National Bank raised its holdings in AssetMark Financial by 1.1% in the third quarter. Swiss National Bank now owns 56,900 shares of the company’s stock worth $1,427,000 after purchasing an additional 600 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in AssetMark Financial by 6.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,851 shares of the company’s stock worth $297,000 after purchasing an additional 677 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in AssetMark Financial by 13.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,027 shares of the company’s stock worth $240,000 after purchasing an additional 925 shares in the last quarter. Finally, Strs Ohio raised its holdings in AssetMark Financial by 5.9% in the third quarter. Strs Ohio now owns 23,300 shares of the company’s stock worth $584,000 after purchasing an additional 1,300 shares in the last quarter. 28.64% of the stock is currently owned by institutional investors.

AssetMark Financial Company Profile

AssetMark Financial Holdings, Inc, together with its subsidiaries, provides wealth management platform in the United States. It offers an open-architecture product platform, as well as client advice, asset allocation options, practice management, support services, and technology solutions to the financial adviser channel.